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When it comes to social-impact investing, the private sector has a lot to learn from the public one, Courtney Robinson writes in the Globe and Mail.
"When it comes to social-impact investing, the opposite is true, the private sector can draw inspiration and learn from the public one," she writes.
In Robinson's case, that public-sector inspiration came in the form of the US House of Representatives, where she served as senior counsel at the Center for Responsible Lending.
That's where she learned that a company's social-impact investments need to serve under-resourced communities with a purpose, a protected, standalone budget, and built-in accountability and governance.
To that end, Block, the tech company formerly known as Square, decided in the fall of 2020 to invest 3% of its cash reserves in community development financial institutions to "overcome barriers to access the economy."
Among the investments the company made: the Black Economic Development Fund, which supports Black-led banks and businesses, and deposits at CDFIs and Minority Depository Institutions to bolster their abilities to lend in underserved communities.
The company also made an investment in the Indigenous Growth Fund, Canada's largest Indigenous social-impact fund.
"We decided to park our earmarked social-impact...
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
If you're in Nashville and want to help fight climate change, there's a program you can sign up for for free. The Climate Innovation Accelerator is a 10-week program from Vanderbilt University's...more
"Education, a fundamental right, is a powerful catalyst for development worldwide." That's what Kenyan social entrepreneur Mumbe Mwangangi has to say about her new startup, Nyansapo AI, which...more
"The future of our nation hinges upon its young,educated, and socially conscious demographic," State Bank of India CEOjay Prakash says in a press release. Prakash is referring to the roughly 1...more
The director of the Flanders Architecture Institute in Belgium has been named an honorary fellow of the Royal Institute of British Architects, the Guardian reports. Sofie De Caigny, who took over...more
If you're an expert in geographic information system (GIS) technology, you may want to consider attending the annual Esri User Conference in San Diego next month. The event, which runs from July...more
"I was working in corporate America for one of the world's largest retail companies, and it was challenging and wonderful in many ways. But I was finding my truest fulfillment on Saturday...more
Foundation: Whitefish Community Foundation
"Through our collective efforts, we're not just providing financial support, but we're investing in Montana's vitality and resilience." That from Mike Smith, president of Glacier Bank, which...more
If you're looking for a way to boost your community's sense of place, researchers at Gustavson University in Sweden have just the thing. They've developed a set of five principles that community...more
Seri Roth is an entrepreneur "with a passion for empowering communities and fostering positive change," according to her website. She's just launched Boston Queers, an online directory and...more
The new president of the International Storytelling Center in Jonesborough, Tenn., says he'll bring a "keen appreciation for the arts and Appalachian history" to the job, the Knoxville News Sentinel...more
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Social Entrepreneurship
Spotlight
Building a Million Dollar Company Where Everyone Counts
Ganesh Natarajan is the Founder and Chairman of 5FWorld, a new platform for funding and developing start-ups, social enterprises and the skills eco-system in India. In the past two decades, he has built two of India’s high-growth software services companies – Aptech and Zensar – almost from scratch to global success.
